Prepare a trial balance from the following list of balances.

During a recession (downturn) in the economy firms lay off workers and the unemployment rate rises. During these times we can ex

Stella [2.4K]

Answer:

The demand for normal goods will fall or decrease and the demand for inferior goods will rise or increase

Explanation:

What is a recession? - Recession is a period in business cycle in which the aggregate economic activity of a country is slowing down or declining.

During recession, there is a decrease in spending on the part of both producers and consumers. Unemployment becomes high, so income level drops.

Demand for normal goods in this period drops because of the fall in level of income. The consumers are managing what is left from their income.

And demand for inferior goods rises because as a result of the constraints (money), consumers now prefer low quality goods which usually go for a lower price than normal goods

6 0

3 years ago

Astute managers are alert for the presence of these clues: disciplinary actions being challenged, employees questioning manageri

Volgvan

Answer: False

Explanation:

Astute Managers are alert for clues and opportunities to bring the company more profit and productivity by leveraging on those opportunities.

They recognize when the winds of change are blowing in the industry and work to realign resources and employee orientation to take advantage of this.

Astute leaders do not look for ways to disparage their employees by looking for signs of insubordination to use it against employees but rather maintain good relationships with employees so that they may move the company forward together.

6 0

3 years ago

Suppose $200 is deposited in a savings account at the beginning of each of 15 years and the account pays 8% per annum, the value

Margaret [11]

Answer:

FV= $5,864.86

Explanation:

Giving the following information:

Annual deposit= $200 at the beginning

Number of periods= 15 years

Interest rate= 8%

To calculate the future value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}

A= annual deposit

FV= {200*[(1.08^15) - 1]}/0.08 + {[(200*(1.08^15)] - 200}

FV= 5,430.42 + 434.44

FV= $5,864.86

6 0

3 years ago

Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhe

Monica [59]

Answer:

Variable overhead variance = $1,440 unfavorable

Explanation:

The variable overhead efficiency variance is the difference between the actual hours and the standard hours for the actual output valued at the standard variable overhead rate per hour.

Machine hours

standard hours for the actual output 4,190

Actual hours 4,350

Efficiency variance 160 unfavorable

Standard rate per hour(see note) × $9

Variable overhead variance 1,440 unfavorable

Standard variable rate per machine hour

= Budgeted overhead cost/Budgeted machine hour s

= $37,800/4,200 hours =$9 per machine hour

Variable overhead variance = $1,440 unfavorable

4 0

3 years ago

In the month of March, Crane Salon services 590 clients at an average price of $120. During the month, fixed costs were $21,312

Sphinxa [80]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Sales= 590 units

Selling price= $120

Unitary variable cost= 120*0.6= $72

Fixed costs= $21,312

First, we need to calculate the total contribution margin:

Total contribution margin= 590*(120 - 72)

Total contribution margin= $28,320

Now, the contribution margin per unit:

Unitary contribution margin= 120 - 72= $48

Finally, the contribution margin ratio:

contribution margin ratio= contribution margin / selling price

contribution margin ratio= 48/120

contribution margin ratio= 0.4

4 0

3 years ago

Prepare a trial balance from the following list of balances. ​

Prepare a trial balance from the following list of balances.